What is a relevant life plan?                                                       

Relevant life plans (RLP) are a way of providing  death-in-service benefits on an individual basis no matter how small your business is.


What are the benefits?                                                                 

Although the company makes the payments, they’re not normally treated as a benefit in kind, so they’re not included in your income tax assessments. For a higher rate taxpayer, this could be a significant saving.

Unlike a registered group scheme, the benefit  won’t from part of your annual or lifetime pension  allowance.

These payments may be treated as an allowable expense for the company in calculating its tax liability, as long as the local inspector of taxes is satisfied they qualify under the ‘wholly and exclusively’ rules.


Who would benefit from a relevant life plan? 

Small businesses that don’t have enough eligible employees to warrant a group life scheme.

High-earning employees or directors who have benefits to form part of their lifetime allowance.

Employees of any type of business.

Members of group life schemes who want to top up their benefits.

NOTE:-  RLP aren’t suitable for self-employed or equity  partners.


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